NZDUSD - Upward trend will continue, Long trade by market price recommended
December 9, 2019 7:39:21 AM
Forecast Details
PairNZDUSD
Direction
Buy
StatusClosed (0.6595)
+140 p
0.6700
Target 1
0.6560
Entry
-120 p
0.6440
Stop Loss
About Author
Patrick Yang
Expert
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Total votes: 3
Buy or Sell
Chart & Analyst Comments
For today's forecast, we recommend a Buy Order at this recommended market price - 0.656. This idea is based on the following analysis:
- According to the most brokers’ data, more than half of the traders are currently in short positions on NZDUSD. As a result, we recommend considering only Long trades at this time.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
